Income Tax
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S.Jegadeesan
(Querist)
20 September 2020
What will be the date of acquisition of the property for calculating the Capital Gain in the following situation?
Mr. Kumar purchased the property on 05.06.1986 & then he has transferred through settlement to his son Mr. Krishna on 05/11/2002 thereafter Mr. Krishna transfer the property by settlement deed on 18.03.2018 to his daughter Divya . Now the property has been sold by Divya on 18.11.2019.
Mr. Kumar purchased the property on 05.06.1986 & then he has transferred through settlement to his son Mr. Krishna on 05/11/2002 thereafter Mr. Krishna transfer the property by settlement deed on 18.03.2018 to his daughter Divya . Now the property has been sold by Divya on 18.11.2019.
CA R SEETHARAMAN
(Expert)
20 September 2020
Consider it as 01/04/2001.
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S.Jegadeesan
(Querist)
21 September 2020
Thank you so much for your reply. Is there any case law available relevant to your answer, please provide the same
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